Securities regulation (51 - 60 of 220 items)
Securities Investor Protection: Steps Needed to Better Disclose SIPC Policies to Investors
GAO-01-653: Published: May 25, 2001. Publicly Released: Jun 21, 2001.
The Securities Investor Protection Act of 1970 created the Securities Investor Protection Corporation (SIPC) to help protect customers against losses from the failure of a securities firm. However, the large number of claims denied in several recent SIPC liquidation proceedings has raised concerns that some SIPC policies and practices may unduly limit the actual protection afforded customers. This...
Securities and Exchange Commission: Reviews of Accounting Matters Related to Public Filings
GAO-01-718: Published: Jun 14, 2001. Publicly Released: Jun 14, 2001.
This report reviews the Securities and Exchange Commission's (SEC) resolution of accounting issues submitted by companies that have or are contemplating publicly traded securities. Companies are required by law to register their securities with SEC by filing a registration statement. This statement must contain financial and other information on the securities and the issuer. SEC's Office of the C...
Evaluation of Steps Taken to Address the Problem of Unpaid Arbitration Awards
GAO-01-654R: Published: Apr 27, 2001. Publicly Released: May 8, 2001.
The Securities and Exchange Commission (SEC) and securities self-regulatory organizations have taken actions that should help reduce the occurrence of unpaid arbitration awards. However, more time is needed to assess the effectiveness of the actions taken to date. Although recent data suggest that the percentage of unpaid awards has decreased, this data was limited to a very short time span. That...
Financial Services Regulators: Better Information Sharing Could Reduce Fraud
GAO-01-478T: Published: Mar 6, 2001. Publicly Released: Mar 6, 2001.
The sharing of regulatory and criminal history data among financial services regulators can reduce fraudulent activities. GAO recently reported on several instances in which unscrupulous brokers moved from one financial industry to another. This testimony focuses on (1) systems used by financial regulators for tracking regulatory history data, (2) regulatory history data needed to help prevent ro...
Procedures for Updating Arbitrator Disclosure Information
GAO-01-162R: Published: Nov 9, 2000. Publicly Released: Dec 4, 2000.
The National Association of Securities Dealers (NASD) subsidiary, NASD Dispute Resolution (DR), failed to update its arbitrator disclosure system in a timely manner. As a result, several parties in an arbitration did not receive timely information on their arbitrator. To reduce the potential for further errors, NASD-DRplans to: (1) introduce a form that will allow arbitrators to submit updated inf...
Securities Pricing: Trading Volumes and NASD System Limitations Led to Decimal-Trading Delay
GGD/AIMD-00-319: Published: Sep 20, 2000. Publicly Released: Oct 24, 2000.
Pursuant to a congressional request, GAO examined the progress that the securities industry has made toward the implementation of decimal pricing for U.S. stocks, focusing on: (1) what were the specific reasons that the Nasdaq market was not ready for the July 3, 2000, implementation date and how the National Association of Securities Dealers', Inc. (NASD) decimal-trading preparations compared wit...
Securities and Exchange Commission: Unlisted Trading Privileges
OGC-00-66: Published: Sep 19, 2000. Publicly Released: Sep 19, 2000.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on unlisted trading privileges. GAO noted that: (1) under the rule, a national securities exchange extending unlisted trading privileges to an initial public offering (IPO) listed on another exchange will no longer be required to wait until the day after trading has commenced on the listing...
Expenditures and Revenues of State Securities Regulatory Agencies
GGD-00-189R: Published: Aug 15, 2000. Publicly Released: Sep 13, 2000.
Pursuant to a congressional request, GAO provided information on expenditures and revenues of state securities regulatory agencies for fiscal years 1998 and 1999, focusing on: (1) the expenditures and revenues of state securities regulatory agencies; and (2) quantifying the revenues of state securities agencies by types of activity.GAO noted that: (1) GAO securities markets operate under a dual sy...
Securities and Exchange Commission: Selective Disclosure and Insider Trading
OGC-00-61: Published: Sep 7, 2000. Publicly Released: Sep 7, 2000.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on selective disclosure and insider trading. GAO noted that: the new rule would address three issues: (a) the selective disclosure by various issuers of material nonpublic information; (b) when insider trading liability arises in connection with a trader's "use" or "knowing possession" of ma...
Mutual Fund Fees: Additional Disclosure Could Encourage Price Competition
GGD-00-126: Published: Jun 7, 2000. Publicly Released: Jul 5, 2000.
Pursuant to a congressional request, GAO reviewed issues relating to mutual fund fees, focusing on: (1) the trend in mutual fund advisers' costs and profitability; (2) the trend in mutual fund fees; (3) how mutual funds compete; (4) how fees are disclosed to fund investors and how industry participants view these disclosures; and (5) what mutual fund directors' responsibilities are regarding fees...